Anhui SOEs' revenue tops 1 trillion yuan in 2021

Updated:Feb 23,2022 15:39 PM

State-owned enterprises (SOEs) in East China’s Anhui province registered 1.007 trillion yuan ($159.167 billion) in revenue in 2021, ranking 7th in the country and 3rd in the Yangtze River Delta region, the provincial government said at a press conference on Tuesday.

The provincial SOEs reaped a total profit of 95.17 billion yuan last year, ranking 4th in China and 2nd in the Yangtze River Delta region. Their assets rose 11.6 percent year-on-year to 1.970 trillion yuan at the end of 2021.

The province launched a new round of strategic reorganization and professional integration of SOEs during the past year.

Meanwhile, the provincial SOEs’ expenditure on research and development (R&D) increased 31.5 percent from a year earlier.

The number of listed companies controlled by provincial SOEs hit 23 in 2021, bringing the province to the 5th place in the country. In addition, the SOEs raised 66 billion yuan from capital market.

The provincial SOEs poured 187.9 billion yuan into 58 major projects in the North Anhui region, as part of their efforts to lend support to the region in its undertaking industrial transfers and clusters.

The province also signed contracts for 57 projects, worth 116.0 billion yuan, with centrally-administered SOEs.

The provincial SOEs aims to increase revenue, net profit and total assets by more than 8 percent this year, according to the government.